If people ever wondered about the necessity of a Scottish currency, then Corona-times should settle the question in their minds. The European Union – with one currency shared amongst many members – has had a difficult, almost torturous time, dealing with the economics of the situation. The Eurozone’s bailout fund, the European Stability Mechanism, took… Read More »A Scottish Currency and Its Debt
The sovereign wealth fund (SWF) has developed from an interesting idea to a global behemoth that dwarves private investors, even of the billionaire make. SWFs invest money from their citizens pensions and taxed resources in all areas of economic activity with the sensible expectation that they can use the innovation and skills of businesses anywhere… Read More »Where’s Our Sovereign Wealth Fund?
Sunday, 29th August 1773 “Mr Keith breakfasted with us. Dr Johnson expatiated rather too strongly upon the benefits derived to Scotland from the Union, and the bad state of our people before it. I am entertained by his copious exaggeration upon that subject; but I am uneasy when people are by, who do not know… Read More »Not the Union, but ideas
The London School of Economics has published a paper claiming that Scotland leaving the UK could see income per person drop by 6.7% to 8.7% over time, depending on whether border costs are low or high, which is a worse outcome than the 2% reduction over the long term due to Brexit. According to the… Read More »Rebuttal to LSE’s Study on Scottish Prosperity after Independence and Brexit
The romance of Scotland’s rural landscape, small towns, villages and whitewashed stone cottages is quite distant from the experience of many inhabitants. The country folk’s dwelling places country folk are not peaty smelling warm rooms, decked in wools and furs, with hand crafted furniture from Scots’ pine. No, they are often draughty, deteriorating flats or… Read More »The Rural Housing Problem Can Be Solved
Recent economic history provides a salutary lesson to Scotland and independence supporters. It illustrates the power of having your own currency, the severe handicap of not having it and how, even with it, your policy can either magnify unfairness in a society or potentially radically reduce it. Quantitative Easing (QE) is the buying of bonds by… Read More »Quantitive Easing for the People
In the late Nineties, there were was a strange economic phenomenon occurring: the formerly booming South East Asian economies, which had been collectively called the ‘Asian Tigers’, were showing instances of economic primitivization. Local economies had become poorer, in fact, not only were they getting poorer, they were regressing. Due to the depletion of fishing… Read More »The Growth Commission Report and Economic Primitivization
An independent Scotland has to do things differently from the UK, but that does not mean that it has to do new things. A large quantity of the fuel that fires the engine for separation is the accurate perception that the Westminster economic model is unfair, unfree and rigged. In the search for a more… Read More »Scotland and North Dakota
Back in the Old Days, when ‘manners were the measure of the (wo)man’, a very pungent letter with rational and detailed criticism sent to the local paper might have had some effect. Nowadays, in the over-information age, strident, reasoned letters are as easily dismissed as are acidic and abusive comments. Letters from Minister to Minister… Read More »A Scottish Currency
On Twitter, Andrew Neil has been crossing swords with Nationalists about the viability of an independent Scotland. Even an impartial observer would say that Neil is winning every bout and I fully expect him to win all the future ones too. For one simple reason: all the numbers and statistics are on his side. They… Read More »Being Economical with the truth
